Capital Power (TSE:CPX) Given New C$53.00 Price Target at Royal Bank of Canada

Capital Power (TSE:CPX) had its price objective reduced by Royal Bank of Canada from C$54.00 to C$53.00 in a report issued on Thursday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other research firms also recently commented on CPX. Scotiabank upgraded shares of Capital Power from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from C$46.00 to C$60.00 in a report on Thursday. ATB Capital increased their price target on shares of Capital Power from C$40.00 to C$42.00 in a report on Wednesday, July 24th. TD Securities boosted their price objective on Capital Power from C$48.00 to C$57.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Atb Cap Markets upgraded Capital Power from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 26th. Finally, CIBC boosted their price target on Capital Power from C$42.00 to C$45.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$55.11.

Capital Power Stock Performance

Shares of TSE CPX opened at C$55.30 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.55 and a debt-to-equity ratio of 133.46. The company has a market capitalization of C$7.19 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.91 and a beta of 0.64. Capital Power has a 12 month low of C$33.90 and a 12 month high of C$56.82. The stock has a 50 day moving average of C$48.54 and a 200-day moving average of C$42.53.

Capital Power Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.652 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.61 annualized dividend and a yield of 4.72%. Capital Power’s dividend payout ratio is presently 51.68%.

Insider Transactions at Capital Power

In related news, Senior Officer Bryan Deneve sold 6,100 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$50.55, for a total value of C$308,355.00. In the last three months, insiders have sold 6,400 shares of company stock valued at $322,274. 0.17% of the stock is owned by corporate insiders.

About Capital Power

Capital Power Corporation develops, acquires, owns, and operates renewable and thermal power generation facilities in Canada and the United States. It generates electricity from various energy sources, including wind, solar, waste heat, natural gas, and coal. The company owns an approximately 7,500 megawatts (MW) of power generation capacity at 29 facilities.